In doing so, Polychain, one of the oldest and richest crypto hedge funds, seemingly thumbed its nose at a slightly risky arbitrage trade that could end up paying millions of dollars more. It is forgoing the opportunity to redeem its ROOK tokens via the โrage quitโ smart contract, where it could at most yield $8.7 million. Thatโs because those ROOK tokens give it the right to a guaranteed slice of ROOKโs treasury, plus the possibility of even more upside if other ROOK holders forget to do the same.
